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A PowerShell script is simply a text file with a .ps1 extension that contains a list of commands PowerShell should execute. However, PowerShell's secure by default philosophy prevents all scripts from running, so double-clicking a PowerShell script from Windows Explorer won't execute it.
Is PowerShell a scripting language? PowerShell is, first and foremost, a command-line environment. You run commands. PowerShell does have a few (just under two dozen) intrinsic keywords that form a sort of scripting language: If, For, Switch, and so on.